Dreier Introduces Economic Stimulus Package, Border Security, and Key Foothills Measures
WASHINGTON, DC - Congressman David Dreier (R-San Dimas, CA), House Rules Committee Ranking Republican, has introduced several pieces of legislation today aimed at stimulating the economy, enhancing our border security and meeting local needs in the Foothills. Dreier said the current economic conditions require bi-partisan cooperation and he looks forward to working with both Republican and Democratic colleagues to secure passage of these bills.
"As the 111th Congress begins, getting our economy back on track is my top priority," Dreier said. “The economic turmoil we’ve been experiencing is taking its toll on working Americans across the country. Families in the Foothill Communities are hurting. From falling home prices to rising unemployment, now more than ever, we need bi-partisan solutions to help working families through these tough times and get our economy growing again. That is why I am introducing three pieces of legislation specifically aimed at addressing the needs of working Americans.”
The centerpiece of Dreier’s economic plan, the Fair and Simple Tax (FAST) Act, H.R. 99, is legislation that will dramatically simplify the tax-filing process by creating an optional, one-page tax form, while reducing the tax burden on working families. The new form implements three simplified income tax brackets – 10% on the first $40,000 in income, 15% on incomes between $40,000 and $150,000 and 30% on any income above $150,000. The FAST Act also retains all the major deductions, including mortgage interest, state and local sales tax, charitable contributions, the child tax credit and the personal exemption.
The economic package also includes two bills to jumpstart the housing and auto industries. The Economic Recovery Through Responsible Homeownership Act, H.R. 101, creates a new tax credit for 2009 and 2010 for every home purchase made with a down payment of at least 5 percent. Under the legislation, prospective home buyers will be eligible for three different tax credits based on the size of their down payment. A home buyer making a down payment of 5 percent will receive a tax credit of $2,000, while a home buyer making a down payment of 10 percent will receive a tax credit of $5,000 and a home buyer making a down payment of 15 percent will receive a credit of $10,000.
The Commonsense Auto Recovery (CAR) Act, H.R. 100, will provide an immediate and important stimulus to aid with the purchase of an automobile by creating a tax credit in the amount of state and local sales taxes paid on the purchase of a new or used vehicle in 2009 and 2010.
“While simplifying the tax code and reducing the overall tax burden through the FAST Act is my ultimate goal, I believe that current economic conditions also require immediate, targeted solutions designed to provide a much-needed stimulus. My proposed legislation will make the purchase of homes and automobiles more affordable for working Americans over the next two years. These are the types of solutions that can provide the shot in the arm that our economy needs,” said Dreier.
In keeping with his commitment to securing our borders and cracking down on employers who knowingly hire illegal immigrants, Congressman Dreier also re-introduced his border security legislation, the Illegal Immigration Enforcement and Social Security Protect Act, H.R. 98. Said Dreier, "I am reintroducing my bipartisan legislation to make the Social Security card counterfeit-proof and crack down on the hiring of illegal immigrants, because securing our borders remains a top priority. I believe this proposal must be a critical component of any legislation aimed at fixing the broken immigration system in this country.”
As a continuation of his long-standing commitment to water quality and water safety, Congressman Dreier has also re-introduced his bill to provide funds for ongoing perchlorate clean-up in the San Gabriel Valley. "The San Gabriel Basin Restoration Fund has a proven track record of success," Dreier said. "I am proud to say that this partnership is an example of good stewardship of taxpayer money. Making sure we maintain a safe drinking water supply is critical priority for all of us and I am gratified to once again have the strong bipartisan support of the San Gabriel Valley Members of Congress."
To view summaries of the legislation, please click on bill titles below.
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